This verse consists of two syntactically
separate sentences. They are: 1) etha passath'imaj
lokaj cittaj
rajarath'upamaj
(come and look at this world, similar to a beautiful king's chariot). The
subject is omitted; the verb implies the second person plural pronoun.
There are two verbs, etha (come, 2nd person, plural,
active, imperative) and passatha (look at, 2nd person,
plural, active, imperative). The object is the noun lokaj
(world, accusative singular). It has two attributes, the pronoun imaj
(this, accusative singular) and the compound rajarath'upamaj
(similar to the king's chariot, accusative singular). This last word has
the adjective cittaj (beautiful, accusative
singular) as an attribute. 2) yattha bala
visidanti n'atthi savgo
vijanataj
(where the fools sink down, for those, who understand, there is no attachment).
This can be further analysed into two segments: a) yattha bala
visidanti (where the fools sink down).
The subject is the noun bala
(fools, nominative plural). The verb is visidanti
(sink down, 3rd person, singular, active, indicative, present
tense). The relative adverb yattha (where) connects this segment
to the following one. b) n'atthi savgo
vijanataj
(for those, who understand, there is no attachment). The subject is the
noun savgo (attachment, nominative
singular). The verb is atthi (is, 3rd person, singular,
active, indicative, present tense). It is negated by the negative particle
na (not). It has an attribute, the active present participle vijanataj
(for those, who understand, genitive plural).

Commentary:

Prince Abhaya was sent to repress some
rebellion at the frontier. He did this job very successfully and so king
Bimbisara gave him the honor of a ruler for
seven days. He was also given a young dancing girl for entertainment. But
on the seventh day the girl died from exhaustion. The prince was very shocked
and sad. He went to see the Buddha, who consoled
him with this verse, saying that we should not be attached to worldly things.